Paris mayor cracks down on second homes

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British buyers are warned to tread carefully after a decision to crack down on the holiday lettings market

British buyers are shrugging off the ruinous exchange rate, determined to make
2010 the year in which they achieve ownership of a Parisian bolthole. But
those reported by exuberant agents to be lured by prices that still seem
astonishingly cheap, by UK standards, face a nasty shock.

It emerged this week that thousands of British owners of second homes in Paris
face fines of up to €25,000 (£22,680) a day and a criminal record for
flouting long-standing rules that demand that they obtain government
permission to let their holiday apartments to tourists.